Global clothing and footwear market is expected to grow at a faster rate during 2015-2020, fueled by growing demand from developing markets, mainly in Asia. In developed markets, such as the US, a change in consumer attitude to seek discounts will fuel demand for value clothing and private labels. Fast fashion will be another factor influencing sales as demand for latest runway designs at affordable price continue to rise among millennials across the globe. Online channel will benefit from these factors, offering lower price, wider product choices, cross-border shipping, and easy payment options. Growing fashion consciousness, rising disposable incomes, urbanization, and increasing access to internet, will underpin growth emerging markets, which are witnessing increased investment from specialist retailers.
- Global clothing and footwear retail sales is forecast to surpass US$1.9 trillion by 2020, with major impetus from developing markets
- China will add US$151.7 billion in sales during 2015-2020, which will lead it closer to the world’s largest market the US
- Indonesia will make an entrance into the list of top 10 largest clothing and footwear markets in 2020, representing 2.9% share in global sales
- Asian markets, Indonesia, Philippines and India, are set witness higher growth rates between 10-13% during 2015-2020
- Specialist retailers will continue to be the largest channel for clothing and footwear sales, however discount stores and online are growing at a faster pace. Online will increase its share from 11.9% in 2015 to 20.2% in 2020
- Considering the rising importance of online channel, retailers are adopting click-and-collect, virtual reality, contact less payments, and deploying chatbots, an interactive robotic technology, to engage with customers and offer them a swift, convenient, and personalized shopping experience
The “Global Clothing and Footwear Retailing, 2015-2020” report, published by Verdict Research, provides comprehensive analysis of global clothing and footwear retail sales across different channels. The report covers current and forecast retail sales data for the category in 50 countries. It also details consumer trends, competitive landscape and latest innovations occurred in the review period.
What else does this report offer?
- Current market sizes and forecasts for 2020 by country with an assortment of charts that ranks countries based on market size, growth rate, value growth and channel sales
- Market insights based on consumer trends, and changing economic and demographic factors on a global, regional, and country basis
- Retail sales and fastest-growing markets for the category group and further sales breakdown for individual sub-categories: womenswear, menswear, childrenswear, women’s footwear, men’s footwear, children’s footwear
- Qualitative and quantitative insights of changing clothing and footwear’s retail dynamics across various channels
- Retail sales, market share and growth rate of channels included: clothing accessories and luxury goods specialists, department stores, online, hypermarkets, supermarkets and hard-discounters, discount stores, value, variety stores and general merchandise retailers, duty free retailers, and others
Reasons To Buy
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- Get accurate and reliable retail sales data of 50 countries for 2015 and forecast for 2020 to identify the largest and fastest-growing market and to discover profitable markets for expansion/entry
- Explore an in-depth analysis of retail sales data by channels to spot important/emerging channels in clothing and footwear retail space and develop strategies for specific channels
- Gain access to retail sales data at sub-category level (womenswear, menswear, childrenswear, women’s footwear, men’s footwear, children’s footwear) across the region to target key markets for each sub-categories and to analyze their current and future growth prospects
- Learn from consumer insights and retail trends and define your strategies based on the need of consumers and retail landscape in the country
- Make regional/country level comparisons to effectively target new revenue streams and align your marketing strategies with the crucial trends influencing consumer behavior
- Track competitive landscape based on the information about store count and latest developments for key clothing and footwear retailers in different region